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The Portuguese Biotechnology Industry: Firms, Labour Market and Innovation Indicators

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The Portuguese Biotechnology Industry: Firms, Labour Market and Innovation Indicators The Portuguese Biotechnology industry: firms, labour market and innovation indicators THE PORTUGUESE #01 REPORT BIOTECHNOLOGY INDUSTRY: JOÃO CEREJEIRA MIGUEL PORTELA FIRMS, LABOUR MARKET AND ELISABETE SÁ EEG / Minho University INNOVATION INDICATORS DECEMBER 2016 1 Portuguese Association of Bioindustry Companies (P-BIO) Publisher Authors Associação Portuguesa de Empresas João Cerejeira, Miguel Portela de Bioindústria (P-BIO) e Elisabete Sá Biocant Park School of Economics and Management Parque Tecnológico de Cantanhede, Núcleo Minho University 04, Lote 02 3060-197 Cantanhede Campus de Gualtar, 4710 - 057 Braga Portugal T. +351 231 410 960 F. +351 231 410 961 T. +351 253 604 587 E. [email protected] Sponsorship Editorial design Rua de S. Domingos, 110 4710-435 Braga | Portugal T. +351 253 096 712 E. [email protected] http://design.twofold.pt 2 The Portuguese Biotechnology industry: firms, labour market and innovation indicators #TABLE OF CONTENTS 1. Executive summary: main results........................................................................................................P 04 2. The current context: global trends in the biotechnology business............................................P 06 3. Measuring the biotechnology sector in Portugal: methodological options.............................P 08 3.1 The biotechnology definition........................................................................................................P 08 3.2 Relevant key characterization indicators...................................................................................P 11 4. Firms characterization: Demography and financial and economic indicators...................................................................P 12 4.1 Number of firms, average size and employment......................................................................P 12 4.2 Number of firms and employment by geographical location...............................................P 14 4.3 Turnover.............................................................................................................................................P 15 4.4 Added value, returns on equity and equity ratio......................................................................P 16 5. Employment: volume, qualifications, wages and types of contract.....................................................................P 18 6. Patents in biotechnology......................................................................................................................P 22 7. References...............................................................................................................................................P 26 Appendix Database selection as source for patents statistics...........................................................................P 28 3 Portuguese Association of Bioindustry Companies (P-BIO) #01 Executive summary Main results #01. Biotechnology industry is a high-priority sector, a key driver to the competitiveness “Portuguese of the Portuguese economy. Its high capacity to innovate and to promote Biotechnology innovation diffusion to other sectors are on the basis of its contribution to the industry is a high- economic growth. priority sector: its #02. The present study aims at characterizing the Portuguese Biotechnology sector, ability to innovate based on firm-level information. Its objectives are threefold: to gauge the size of and to promote the sector by means of financial and economic indicators (turnover, employment, innovation added value, returns on equity, among others), to characterize the labour market, diffusion to other and to characterize the innovation performance. sectors makes it a key driver to the competitiveness of the Portuguese economy.” #03. In 2014, there were 65 firms in Portugal, which employed 478 workers, with “A growing sector in an average size of 7.4 workers per firm, about a third of the European average a recessive context.” (24.5 workers per firm). From 2006 to 2014, total employment experienced a strong increase, about 240%, above the average increase observed in European countries (157%). #04 At the European level, five countries concentrate 79% of the employment and 56% of the number of firms: the United Kingdom, Germany, France, Switzerland and The Netherlands. In 23 European countries with available comparable data, Portugal ranks 14 regarding total employment (0,9% of the total) and ranks 10 in the total number of firms (2,9% of the total). #05. In 2014, in Portugal, the sector turnover was 30.5 million euros, corresponding “Firm size below the to 0.25% of the total of the sector at the European level. It represents a fourfold European average increase compared to the turnover in 2006. The average turnover by firm was 436 and in need of thousand euros, much lower that the European average of 5.166 million euros. strengthening their The average turnover by worker was 28.1% of the European average. equity ratios.” #06. The equity ratio of Portuguese firms has been about 30%, whereas in other European countries the indicator is about 50%. 4 The Portuguese Biotechnology industry: firms, labour market and innovation indicators #01 #07. About 85% of the sector workforce has at least a Bachelor’s diploma. Namely, 14% of the workers have a PhD, 18% completed a Master’s degree, 48% have “Knowledge Licenciate’s diplomas and 5% have a Bachelor’s degree. intensive sector, creating highly #08. In 2013, the average gross wage (base wage plus overpayments) was 1558 euros, skilled jobs and about 400 euros above the national private sector average. Half of the workers earned a wage below 1267 euros, and about 10% of them earned more than 2483 paying above- euros. The average hourly wage was 9.2 euros. average wages.” #09. The average workers’ age is 34 and 61% of the workers are women. “Human resources #10. About 89% of the workers are employees, of which 64% have a permanent ageing on average 6 contract. Almost all people work full-time. years less than the national average and the sector employs proportionally more women than men.” #11. Patent publication in Portugal more than doubled from 2006 and 2014. “The number of patents (publication and grants) more #12. From 2006 to 2014, there were 407 publications in biotechnology (0.5% of the total than double over for the UE-28). In the same period there were 87 grants. Those patent publications represent 5.7% of the total publications in Portugal, and puts Biotechnology in the last 8 years. fourth place among the 35 areas of the patent classification. The Portuguese In Portugal, the Biotechnology sector has a relevant position in the European context, as its patent biotechnology publication represented about 2.6% of the total number of patent publications in the EU-28, from 2006 to 2014. ranks 4 in the 35 technological classifications regarding patent publication.” 5 Portuguese Association of Bioindustry Companies (P-BIO) #02 The current context Global trends in the biotechnology business 6 The Portuguese Biotechnology industry: firms, labour market and innovation indicators #02 Biotechnology is considered internationally as a critical contributor to economic and employment growth, (Carlson, 2016). Although placing a greater focus on the biopharma business, the Ernst & Young’s Beyond Borders - Biotechnology Report 2016 shows that the area has been growing rapidly at two digits’ rate over the past 15 years, faster than the economy as a whole, setting successive records in terms of financial performance. According to the same report, in 2015 the growth of the area started slowing down, however, signalling that it is entering a more mature phase, which presents new challenges to the companies. Nevertheless, the R&D expenses are growing faster than revenues, suggesting a willingness to continue investing in the area. In fact, Ernst & Young’s report shows that biotech companies have a remarkably high capacity to raise capital. In particular, early-stage venture investment has peaked in 2015. In the future, biotechnology is believed to be able to offer technological solutions for many existing and emerging health and resource-based problems that are expected over the next two decades, resulting in an emerging “bioeconomy” (OECD, 2009). According to OECD’s forecast for the bioeconomy in 2030, it is possible that within the OECD region, biotechnology can contribute to 2.7% of GDP, being the largest economic contribution expected in industry and primary production. The major drivers for such development will be the increasing population and per capita income, particularly in developing countries, increase in energy demands, combined with measures to reduce greenhouse gases and increase in elderly population. These trends call for more sustainable and effective solutions to produce food, consumer goods, energy and improve health, which can be offered by biotechnology, suggesting that wider opportunities can be expected for the businesses in this area in the future. Particularly in Europe, there is an explicit intention to develop the bioeconomy. For this purpose, in 2012, the European Commission has set a Bioeconomy Strategy and an action plan to develop technologies and processes for the bioeconomy; markets and competitiveness for the companies operating in the area and; to bring together policymakers and stakeholders (European Commission, 2016). The bioeconomy is also approached through different programs and instruments including the Horizon 2020. The European Union acknowledges the importance
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